AppLovin (NASDAQ:APP) Shares Down 8.4% Following Analyst Downgrade

Shares of AppLovin Co. (NASDAQ:APP) fell 8.4% on Friday after UBS Group lowered their price target on the stock from $630.00 to $450.00. UBS Group currently has a buy rating on the stock. AppLovin traded as low as $239.00 and last traded at $241.75. 3,886,718 shares changed hands during trading, a decline of 32% from the average session volume of 5,720,114 shares. The stock had previously closed at $263.83.

Other equities analysts have also recently issued research reports about the stock. FBN Securities started coverage on shares of AppLovin in a research report on Friday, March 28th. They issued an “outperform” rating and a $385.00 price objective on the stock. Bank of America boosted their price target on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group increased their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Citigroup boosted their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 price target on shares of AppLovin in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $424.84.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several large investors have recently bought and sold shares of APP. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin during the 4th quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the fourth quarter worth approximately $25,000. Riverview Trust Co grew its position in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC purchased a new stake in AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management boosted its stake in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Down 8.4 %

The company has a market cap of $82.20 billion, a P/E ratio of 53.25, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a fifty day moving average of $329.81 and a 200 day moving average of $292.58.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.